Rotterdam-based Valyuu, a circular platform for pre-owned electronics, announced on Tuesday that it has secured €2.4M in a fresh funding round led by Rubio Impact Ventures and Slingshot Ventures.
Other participating investors include US-based Techstars, Golden Egg Check Capital, and several angel investors.
The Dutch company says it will use the funds to further develop the platform, increase brand awareness in the Benelux and accelerate international expansion.
Valyuu plans to develop the platform with new product features, expand the product catalogue, and optimise the pricing and matching technology.
“We have been working in the electronics market for years and see how irresponsibly stuff is handled. 80% of all electronics still function perfectly, and the remaining 20% just need a refresh. This does indicate that reuse in this sector needs a boost. With an accessible digital platform – the buying and selling process on Valyuu is very simple – we want to lower the threshold for giving discarded products a new life,” says Ferhat Topuz, CEO of Valyuu.
Valyuu: Circular economy marketplace
Valyuu was founded in 2022 by Ferhat Topuz, Arvin Esterabadi, and Jingwei Ren with the sole mission of encouraging more circular behaviour, thereby reducing the e-waste pile.
Through the platform, users easily buy and sell used electronic devices in different categories at a fair price and without intermediaries.
The company also offers a ‘product passport’ for each product, which offers full transparency on the product’s condition, complete with unique photos and access to test reports.
As a result, consumers know exactly what they are buying. All products are validated using software and tested for functionality.
What the investors say
Rubio Impact Ventures is an impact venture fund based in the Netherlands with €150M AUM.
The VC invests in world-changing entrepreneurs who unite powerful positive impact with a scalable commercial business; the future-proof approach to a successful business.
Besides investment, the VC also offers expertise and network access to help them accelerate to the next level.
“Why we get so excited about Valyuu is the realisation that a used phone still works just fine, and it’s mainly about convenience and trust,” says Warner Philips, partner at Rubio. “It seems like a small detail, but by not sending that phone with that little scratch halfway across the world for a new back cover, you save up to 80% of emissions, AND you can offer both buyer and seller a better price.”
Ernst Rustenhoven, who led the investment from Slingshot Ventures, says, “Valyuu is operating in a market that we expect to continue to grow rapidly in the coming years – the lifespan of electronic equipment is increasing, making it easier for it to get a second life. Valyuu has shown that its proposition matches consumer needs. This provides a good basis to realise its ambitious growth plans.”
Read the orginal article: https://siliconcanals.com/news/startups/rotterdams-valyuu-bags-2-4m/
